First seen in the Middle Ages, Castles were built in Europe and the Middle East by nobility. By the thirteenth century, deliberate structures were built into castles for defense purposes, including the construction of towers, forts, and moats.  Some historians even date first evidences of moats as far back as ancient Egyptian times. (Oredsson, D, 2000)  

A moat is defined as a deep, broad ditch, often filled with water that surrounds a castle to provide the castle with a preliminary line of defence.  Naturally, the wider and deeper the moat, the stronger the protection it provides to the castle.

Although a Castle is technically distinct from a Palace, defined as a grand residence that is not fortified, the characteristics of many Palaces have since evolved, and like castles, are walled and surrounded by moats.

There are many well known palaces with moats in our region.  They include the Tokyo Imperial Palace in Japan, Angor Wat in Cambodia, Chiang Mai in Thailand, Vellore in India, and of course, the Imperial Palace of China.

The Imperial Palace, also called the Forbidden City, is the largest palace complex in the world. Built in the 15th century during Ming dynasty, the Palace represents the culmination of the 2000 year development of classical Chinese and East Asian architecture.  The Imperial Palace is situated in the middle of Beijing, surrounded by a 7.9 meter high city wall, and a 6 meter deep by 52 meter wide, moat.

Established in 2004, our company draws a strong simile between the concept of Castle & Moat, and our investment philosophy of investing in companies (our castles) that display a strong and durable competitive edge (their moats).  We regard these companies as strong franchises.

Inspired by the grandeur and functional aspects of the Imperial Palace on one hand, and our search for ‘fine castles and wide moats’ on the other, we adopted the name Imperial, and the corporate logo of a castle tower, to reflect our investment philosophy and strategy.

Our mission is to identify and invest in Asian franchises, demonstrable in their ability to continuously create value for shareholders.  Our investment process also gives preference to those companies that are building a sustainable business, as determined by our assessment of their ESG (Environmental, Social, and Governance) practices.

We hope you will join us on our exciting journey in search of, and participate in the growth of, the finest castles and moats in the non-Japan Asia Pacific region.



Oredsson, Dag. 2000, Moats in Ancient Palestine, November 2000, Almqvist & Wiksell International